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US factory orders slipped less than expected in August

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US factory orders slipped less than expected in August

New orders for goods manufactured in the U.S. declined less than expected in August following two consecutive monthly increases, latest data from the U.S. Census Bureau showed.

Factory orders edged down 0.1% month over month to a seasonally adjusted $499.77 billion in August after rising 1.4% in July. The consensus estimate of economists polled by Econoday was for a monthly decrease of 0.6%.

Durable goods orders went up for the third consecutive month, increasing 0.2% to $250.74 billion. Fabricated metal products led the expansion, rising 1.2% to $34.33 billion. Non-durable goods orders fell 0.3% to $249.03 billion.

Shipments of manufactured durable goods grew 0.1% to $253.93 billion, while shipments of non-durable goods went down 0.3% to $249.03 billion, the third monthly decline in four months.

Durable goods inventories rose 0.2% to $428.26 billion, while inventories of non-durable goods fell 0.5% to $267.62 billion.